The Real Deal New York

ETrade takes 31K sf at SJP’s 11 Times Square

Digital consulting firm Synechron also takes 12K sf, bringing building to 95% occupancy

January 11, 2017 10:57AM

Steven Pozycki and 11 Times Square (Credit: Eleven X)

Online discount stock brokerage ETrade inked a deal to lease more than 31,000 square feet at SJP Properties’ recently rebranded 11 Times Square office tower.

The firm, which is relocating from 1271 Sixth Avenue, took 31,234 square feet in the 1 million-square-foot tower, the New York Post reported.

Digital consulting tech firm Synechron also took 11,831 square feet in the building, bringing the office space to 95 percent leased. Synechron will be relocating from 15 Maiden Lane.

Rents are around $90 per square foot, according to SJP leasing director Jeff Schotz.

It’s been a long road for the property, which SJP and partner PGIM (formerly Prudential’s PREI) built on spec as the market crashed amid the Great Recession.

Other office tenants include Proskauer, Microsoft and the hedge fund Moore Capital. The owners still have about 50,000 square feet of vacant retail after a pair of food tenants, Urbo and Senor Frog’s, failed.

Norges Bank bought a minority stake in the property back in early 2015.

The owners have rebranded the building, giving it the new moniker “11|X.” [NYP]Rich Bockmann

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